A Loan Calculator is a helpful tool for anyone planning to borrow money, whether it’s for a car, home, education, or personal use. It gives a clear picture of your monthly repayments, total interest, and overall loan cost before you commit to a loan.
Loan Calculator
To use the calculator, you usually enter:
- Loan amount
- Interest rate
- Loan term (in months or years)
- Repayment frequency (weekly, fortnightly, or monthly)
The calculator then shows:
- Estimated repayment amount
- Total interest over the loan period
- Total repayment (loan + interest)
This tool is useful for comparing different loan offers, adjusting terms to fit your budget, and understanding how interest affects the total cost. It helps you make smarter, more informed financial decisions.
Whether you’re applying through a bank or finance company, a loan calculator is your first step toward better borrowing.